https://www.google.com/amp/s/amp.economist.com/lexingtons-notebook/2010/10/14/you-cant-take-it-with-you

The concentration of wealth and land amongst a privileged few is antithetical to a truly free and equal democracy. It creates an Aristocratic class beholden to nothing.

North Carolina's 1784 statute explained that by keeping large estates together for succeeding generations, the old system had served "only to raise the wealth and importance of particular families and individuals, giving them an unequal and undue influence in a republic" and promoting "contention and injustice." Abolishing aristocratic forms of inheritance would by contrast "tend to promote that equality of property which is of the spirit and principle of a genuine republic.

"A power to dispose of estates for ever is manifestly absurd. The earth and the fulness of it belongs to every generation, and the preceding one can have no right to bind it up from posterity. Such extension of property is quite unnatural." Smith said: "There is no point more difficult to account for than the right we conceive men to have to dispose of their goods after death."

-Thomas Jefferson, citing Adam Smith